29 January 2025 , 10:23
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Criminal group accused of laundering millions across Europe by exploiting refugee protections and shifting to cryptocurrency.
The EU law enforcement agency, Europol, announced Monday that it dismantled a criminal network led by two Ukrainian brothers, arresting 23 suspects accused of laundering millions across Europe.
The network, comprising Ukrainian, Armenian, Kazakh, Azerbaijani, and Chinese nationals, provided money laundering, cash courier, and underground banking services to criminal groups involved in drug trafficking and smuggling, primarily operating in Spain.
Authorities allege the Ukrainian brothers violated the EU’s temporary protection status granted to Ukrainian refugees in 2022, following the Russian invasion. The suspects reportedly exploited refugees transporting cash to safeguard savings, taking advantage of relaxed border scrutiny to move large sums across countries.
Couriers, including family members of the network’s leaders, declared the cash as personal assets, enabling its movement between Spain, Cyprus, France, and other countries. As arrests of cash couriers increased, the network shifted to cryptocurrencies to continue laundering money.
The operation resulted in the seizure of 35.7 million euros ($37.24 million) in cash, bank accounts, and cryptocurrencies, as well as 36 vehicles, real estate, luxury watches, and jewelry.
Europol estimates the network laundered at least 75 million euros ($78.25 million) between March 2023 and February 2024.